EURNZD [Daily, Short]: Failure Test/False Break
Price overcame resistance and took out the previous highs but failed to breakout. Buyers buying the breakout are trapped, fuelling selling pressure.
Move into resistance was clean and candles show price rejection.
Entry: Market order at 1.7175
Stop: Few ticks above candle high at 1.735
TP: 1st TP at 1.689, 2nd TP to continue riding remaining half of position and exit when price closes above daily candle high
Move into resistance was clean and candles show price rejection.
Entry: Market order at 1.7175
Stop: Few ticks above candle high at 1.735
TP: 1st TP at 1.689, 2nd TP to continue riding remaining half of position and exit when price closes above daily candle high
Trade closed manually:
Price rejection wasn't convincing. Exited manually with 0.17 profit